In this work, we articulate the case for values of insurance liabilities being company dependent. In the process, we identify main factors determining market values of such liabilities, analyze them from the perspective of dependence on the company issuing them, and follow this with a suggested regulatory approach allowing for company independent valuation. Such regulatory approach is in conceptual agreement with the emerging risk-based capital paradigm.


Cash Flow Life Insurance Life Insurance Company Insurance Liability Derivative Security 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer Science+Business Media Dordrecht 1998

Authors and Affiliations

  • Krzysztof M. Ostaszewski
    • 1
  1. 1.University of LouisvilleUSA

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